This article describes how to blend pricing sources. You can blend multiple products into one best pricing grid. For each rate and lock period, the best priced product will be displayed.
Choose Investors to Blend
Each investor you want to include in the blend must be made available for sourcing. To do this, the pricing output must be connected from the investor entity to the blended investor entity.
- Select the first Investor entity that you want to include in the blended pricing. Click the Pricing Outputs activity.
- Click Show All Entities.
- For the blended investor, select the Standard pricing output from drop down list. Click Update Availability Settings to save.
Add Pricing Sources
- From the Entity Selection screen, select the Investor entity in which you want to create the blended pricing source. Click Manage Products.
- Select the individual product you want to blend pricing for. Click the Pricing Source activity. The Pricing Source activity is only available the individual product level.
- Click Add New Source.
- What would you to name this source? Name your new pricing source. The best practice is to name your source the name of the investor and product you are referencing (i.e. BB&T Corr Conforming 30yr Fixed).
What type of source is supplying pricing? Select what type of source will supply pricing. If you are going to source to another investor, you can leave the default Reference another Product selected.
- Reference which entity and product – Select the investor and product you want to source pricing to. *If the investor you need to use for sourcing does not appear in the drop down, then the pricing output is not connected from that investor to the current entity. See ‘Choose Investors to Blend’.
Click Save Pricing Source to save.
- Deselect Use the same lock periods as the source to configure the lock periods if needed. *All pricing sources must have the same lock periods.
Click Save Pricing Source to save lock period configuration.
- Click Back to Pricing Source.
- Repeat steps 3 – 11 for every investor source you want to include in the blend. You must have at least two pricing sources for the Add Blended Source button to appear.
Blend Pricing Sources
- Click Add Blended Source.
- To see the blended price grid, click Edit on the new Blended Best-Price Source.
- To return to the Pricing Sources, click the Back to Pricing Sources button.
- Each pricing source is included in the blend. If you would like to exclude a source from the blend, deselct the Include in Blended Source checkbox. Click Update Include Settings to save any changes.
- Select the Blended Best-Price Source radio button and click Update Selection to save.
- The compare column allows users to select multiple pricing grids to compare. Select each source you want to compare by checking the Compare column boxes and clicking Compare Pricing.
Blended pricing sources must be activated. This can be done manually or scheduled to activate automatically.
- From the Entity Selection page, select the investor with your blended pricing, and click the Ratesheet Generation activity.
- From within the Ratesheet Generation Controls page, click Pricing Generation.
- To manually Activate pricing click Select All, and then click Update & Activate Selected Products. *If a product does not display here, then the Blended Best Priced Source is not selected. See ‘Blend Pricing Sources’ step 5
- The blended pricing grid is now updated with each investor’s latest ratesheet. The screen now displays the updated timestamps and status.
- Enable the Schedule – You can also enable a schedule to have Optimal Blue automatically blend and update the pricing for you. Click the check box beside Enable the scheduled for Auto Blend Multiple Pricing Sources.
Run on Weekends/Holidays – Determine whether you would like to update pricing on weekends and holidays.
Execute at time-of-day (Central Standard Time) – You can add specific times to have the Auto Blend run. Click Add for each time you want the auto blend to run. Input your desired times.
- Click Submit Change.
*Reminder: Blended pricing will not update unless manually activated in Pricing Generation or the Auto Blend is enabled.